It was a relatively quiet week last week for mortgage rates ahead of the Fed meeting on March 21.The primary surprise was a decline in retail sales, which was positive for mortgage rates, and rates finished last week slightly lower. Consumer spending accounts for about 70% of economic activity in the U.S., making the retail sales data a highly anticipated report each month. Following the Continue Reading
Freddie Mac: Mortgage rates exceed 4% for first time since July.
Mortgage rates continued rising in the last week, eventually breaching 4% for the first time since last summer, according to Freddie Mac’s latest Primary Mortgage Market Survey. Freddie Mac’s report, which was released Thursday morning, shows that the 30-year fixed-rate mortgage rose to an average of 4.04% for the week ending Jan. 18, 2018. That continued a recent trend of mortgage rates Continue Reading
Southern California Home Sales Fall in January.
Despite many promising factors leading into 2015, home sales in January fell sharply from December, a modest dip from a year earlier and the 14th month in the last 16 to post year-over-year declines. While a decline in sales is typical during the winter months, many experts were hopefully that the abnormally low mortgage rates would be enough to drive the market forward. Now many agents and Continue Reading
What’s Sold and For Sale in Pasadena Real Estate – September 2104.
Here is interesting news for home-buyers lusting after great real estate but finding credit standards onerous. Fannie Mae , Freddie Mac and mortgage lenders are nearing an agreement that could lower barriers and restrictions on borrowers with weak credit, a move that would expand access to home loans amid the sluggish housing recovery. The move by the mortgage-finance giants and their Continue Reading